investment
Investment in education must be increased to overhaul the system: Dr Salimullah Khan
The reform of the education system should be gradual, not revolutionary, and requires time. To bring about changes in the education system, investment in education must be increased, and educational opportunities should be provided to all. The state must take responsibility for the cost, curriculum, and language of education.
These points were made during a dialogue titled "Post-People's Uprising Thoughts on Education—What Kind of Education System Do We Want?" held at the RC Majumdar Auditorium of Dhaka University on Friday afternoon, organized by the Samajtantrik Chhatra Front.
Professor and writer Salimullah Khan stated during the discussion that if we want to bring about changes in the education system, investment in education must be increased, and the state must take on that responsibility. He emphasized that the real issue in education is how long we will consider education a right, what the curriculum will be, and in what language education will be delivered.
He added that even if education is universal and everyone’s rights are protected, inequality will still persist. For this reason, the democratic form of education would be nationalization. The state must take responsibility for the cost, curriculum, and language of education. He further said that everyone should have access to education and that the teacher-student ratio must be changed.
Read: AKDN's resident representative discusses education and climate change initiatives with Foreign Adviser
Associate Professor Samina Lutfa of the Department of Sociology at Dhaka University stated that the reform of the education system should not be revolutionary, but should happen gradually. The reform cannot be accomplished quickly, so experienced educators should be involved in the process. She said that teaching is not like a typical 9am to 5pm job; it is a 24-hour responsibility, and teachers should be provided with the necessary environment to perform their duties.
She further emphasized that for real change to take place, students need to be involved in extracurricular activities such as sports and various cultural and literary events, and that diversity is important. The infrastructure of schools and colleges, along with the role of teachers, are crucial in this process.
Professor Kamrul Hasan Mamun of the Department of Physics at Dhaka University commented that political stories have been included in the textbooks of children in the country’s education system. Political messages and images have been added to the back covers of books. The inclusion of politics in children’s books is something not found in any other country.
He also mentioned that various education streams, including Bengali, English, Madrassa, and technical education, exist in the country, but there is no common platform for them. He pointed out that those who study in English-medium schools are expected to pursue "export-quality" education, while those studying in Bengali-medium schools aim to take the BCS exam. This divide has emerged in the education system.
He added that there has been a rush to establish universities in districts under the name of development. Unqualified individuals have been made teachers in these universities. However, he noted that Bangladesh has never had a sufficient number of qualified teachers in its 161 universities.
Navine Murshid, a teacher at a private university, said that the kind of education system they want is one where students can think critically. Critical thinking should be the foundation of any education system.
Read more:Private institution teachers to get transfer opportunity: Education Adviser
Other speakers at the dialogue included writer and editor Rakhal Raha, and senior teacher Shamiem Zaman from Muhammad Shahidullah Adarsha Higher Secondary Institution.
1 week ago
Foreign Adviser calls for increased Norwegian investment in Bangladesh
Foreign Adviser Md Touhid Hossain has called for increased Norwegian investment in Bangladesh.
He said this when the newly appointed Ambassador of Norway to Bangladesh, Håkon Arald Gulbransen, paid his first courtesy call on the foreign adviser at the Ministry of Foreign Affairs on Wednesday morning.
The focus of the discussion centered around the strengthening of bilateral ties and increased Norwegian investment in Bangladesh.
During the meeting, the foreign adviser highlighted the long-standing friendly relations between the two countries and welcomed Norwegian support to Bangladesh’s Interim Government.
He underscored the significant reform initiatives currently underway in the country, particularly in the areas of democracy, governance, and the economy.
The economy of Bangladesh is resilient, said Touhid.
He encouraged more Norwegian investment in Bangladesh, particularly in prospective sectors such as ICT, renewable energy, and electronics.
Read: Norway sees “great potential” in Bangladesh
He further pointed to the ongoing government efforts in improving the business environment, including the introduction of the effective ‘One Stop Service’ to facilitate foreign investments.
Ambassador Gulbransen, echoed the positive sentiment, stating that the relationship between the two nations has evolved from a development partnership to a more trade-centric one.
"Norway sees great potential in Bangladesh," he said.
He pointed out the significant presence of Telenor in the country, expressing a desire for enhanced business-to-business ties moving forward.
On the issue of human rights, Foreign Adviser Touhid reaffirmed the Interim Government’s commitment to improving protection. He said Bangladesh acceded to the ‘International Convention for the Protection of All Persons from Enforced Disappearances’ in August and shared the news that Bangladesh had recently been elected Vice President of the UN Human Rights Council.
The Foreign Adviser assured the Norwegian Ambassador of the full support of the Ministry of Foreign Affairs in carrying out his duties and wished him a productive and successful tenure ahead.
1 week ago
Bangladesh welcomes investors from China in post-US election landscape
The head of the Bangladesh Investment Development Authority has invited China-based manufacturers to invest in Bangladesh in the wake of the post-election development.
Chowdhury Ashik Mahmud Bin Harun, the Executive Chairman of the BIDA, wrote an "open letter" to investors in China, saying that Bangladesh was now ready to emerge as a potential destination for manufacturers planning to relocate or diversify their footprints.
"The post-election developments in the US signal big increases in tariffs and duties for China-based manufacturers," Chowdhury, a former senior banker with HSBC, writes.
"In this context, we extend an open invitation to our investor friends in China and are committed to supporting them in navigating the evolving landscape. We see potential in industries like garments, electronics, solar value chain, and automotive. We are committed to tailoring a favourable investment environment for the investors with attractive incentive programs and benefits," he said.
The BIDA chief who met at least 200 CEOs of multinational and local companies last month, said contrary to what some political experts were predicting, Bangladesh economy is set to benefit hugely in the new Trump presidency. "We are already witnessing quite a lot of interest from China based manufacturers seeking to diversify their risks and manufacturing bases," he said.
China, a long-standing partner of Bangladesh and, in 2022, has become Bangladesh's largest source of Foreign Direct Investment (FDI).
Chowdhury said this trend will accelerate once the new Trump administration takes over in January 2025.
Prioritising quality and global standards can be Bangladesh’s path to post-LDC success: Strategy paper
He said he has been following the regional expansion of Chinese manufacturers in the last decade and was fortunate to support them in his previous capacity as an investment banker.
"With the new US political landscape, the trend is likely to grow."
Bangladesh is keen to "welcome" these investors with tailored solutions. "That's my commitment as the chief marketing officer of Bangladesh," he writes.
3 weeks ago
Sanchayapatra at Maturity: Encashment or Renewal of Bangladesh’s National Savings Certificate
Shanchayapatra or national savings certificate has long served as a reliable saving scheme, providing a dependable path toward financial stability for the people of Bangladesh. Upon reaching maturity, some holders may find it necessary to withdraw their funds, whether for personal expenses, medical needs, or investment opportunities. For others, however, the renewal option of their Sanchayapatra offers a chance to continue growing their savings. Let’s explore what steps to take when it reaches maturity.
Sanchayapatra Encashment Process
Completing the encashment of Sanchayapatra typically requires around 2 to 3 business days after maturity depending on the issuing bank. For certain banks, processing may even take a few additional days.
Each bank maintains its unique form to carry out the process. The first step in withdrawing funds is to fill out a form. After completing it, the form must be manually signed and submitted to the branch of the bank from where the Sanchayapatra was purchased.
Read more: Buying US Dollar Investment Bonds: A Comprehensive Guide for NRBs
If the investor cannot appear at the bank or sign the form due to physical limitations, a nominee can carry out the procedure on his/her behalf. In such cases, the investor must provide a medical certificate that verifies their physical condition.
In addition to the investor, the nominee may withdraw only the profit earned from the Sanchayapatra. However, this requires explicit written authorization from the investor, including their signature and a discharge of the profit coupon. The initial deposit value, however, cannot be accessed solely through an authorization letter or permit.
For Sanchayapatra purchased online, this procedure becomes much simpler. This online context refers to the National Savings Scheme Online Management System. In this regard, Bangladesh Bank recently issued directives to all its branches and scheduled banks. The principal of Sanchayapatra bought via the system will be credited directly to the investor’s account upon the exact day of maturity.
Read more: How to Buy Bangladesh Government Treasury Bond: Everything You Need to Know
Additionally, any profits will be transferred in installments on schedule. All transactions will be processed through the Electronic Fund Transfer (EFT) system. It means neither the investor nor their nominee will need to visit the bank to receive the profits or maturity value.
Sanchayapatra Renewal Process
With the automation of the new system, paperwork-related complications are set to reduce significantly. Here are the updated renewal guidelines for Sanchayapatra as per the directives of Bangladesh Bank:
- For Family Sanchayapatra, Three-Month Profit-Based Sanchayapatra, and Pensioner Sanchayapatra, only the original invested amount will be automatically reinvested.- For five-year Sanchayapatra and Post Office Sanchayapatra, both the principal and the profits will be automatically reinvested.
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In these cases, the maximum investment limit will be applied from the date of reinvestment.Profits from Pensioner Sanchayapatra will now be disbursed monthly rather than quarterly.
In a Nutshell
The recent advancements in Shanchayapatra’s encashment and renewal processes offer a streamlined, hassle-free experience. By utilizing the National Savings Scheme's online management system, investors gain seamless access to renew or encash Sanchayapatra. Thanks to the EFT system, funds are deposited directly into the account on maturity day, eliminating the need for in-person visits or form submissions. With automatic renewal options, holders can effortlessly reinvest, avoiding administrative delays and potential complications. Together, these improvements ensure a smoother, more accessible experience for all Sanchayapatra holders.
Read more: Is Sanchayapatra a Good Investment
Read more: How to Buy Sanchayapatra in Bangladesh: A Beginner's Guide
1 month ago
Economy facing challenge as lending, investment grind to halt
The economy of the country is experiencing a challenging period, with public and private investments coming to a near standstill over the past few months.
Private sector investment has hit a low, as many industrial and bank owners are not present in their respective areas. Consequently, the resumption of activities in private industries and efforts to get the banking system back on track for lending have been moving slowly in recent times.
Planning Adviser to the Interim Government Dr. Wahiduddin Mahmud, in a recent briefing after an ECNEC meeting, acknowledged the slow pace of production in industries and lending activities in the banking sector.
“Private sector investment is a driving force for the economy. If this sector faces hindrances, the whole economy is affected,” he said.
However, Dr. Mahmud noted that it is normal to experience obstacles in investment after a significant political transition.
“Investment in the private sector is currently lower,” he added.
Regarding public sector investment, which is executed through the development budget, Dr. Mahmud explained that the interim government is re-evaluating the development projects approved by the previous Awami League government.
The Awami League-led National Economic Council (NEC) approved the Annual Development Programme (ADP) for the fiscal year 2024-2025, with a total outlay of Tk 265,000 crore. This included 1,321 projects, comprising 1,133 investment projects, 21 survey projects, 87 technical assistance projects, and 80 projects from autonomous bodies and corporations.
Read: Economy in contraction mode, despite improvements in key sectors: Analysis
Dr. Mahmud pointed out that many development projects were politically motivated. “Several projects were either poorly implemented or, upon further scrutiny, would not be carried out as planned,” he said.
As a result, the interim government is amending ongoing projects, a time-consuming process. If a project is deemed unnecessary or of low priority, the government is halting further allocations once it reaches a self-sufficient stage.
Dr. Mahmud also cautioned that if both private sector investment and public sector expenditure slow down, the overall money flow in the economy will be affected. He added that rural businesses are reporting sluggish trade due to reduced investments from both sectors.
Among the top 10 sectors in terms of ADP allocation, the transport and communication sector received the highest allocation of Tk 70,687.75 crore (26.67%), followed by the power and energy sector with Tk 40,752 crore (15.38%), and the education sector with Tk 31,529 crore (11.36%). Other key sectors include housing and community facilities, health, local government and rural development, agriculture, environment, industry, and science and technology. The total allocation for these top 10 sectors amounts to Tk 242,093 crore, representing 90.25% of the total ADP.
In a bid to curb inflation, Bangladesh Bank has raised its key policy rate (repo rate) by 50 basis points, bringing it to 9.50%.
According to the Bangladesh Bureau of Statistics (BBS), the general point-to-point inflation rate dropped to 9.92% in September from 10.49% in August 2024. Both food and non-food inflation also showed a downward trend during this period.
Read more: Taskforce aims to re-strategise Bangladesh’s economy for sustainable growth
Food inflation declined to 10.40% in September from 11.36% in August, while non-food inflation fell to 9.50% in September from 9.74% in August.
Inflation in both urban and rural areas also decreased last month. In rural areas, inflation dropped to 10.15% in September from 10.95% in August. In urban areas, it fell to 9.83% in September from 10.01% in August.
2 months ago
Feasibility study will identify opportunities for increased US investment in Bangladesh cold chain: Helen LaFave
Lack of appropriate temperature-controlled logistics in Bangladesh results in post-harvest losses, affects food safety, and limits trade in agricultural and consumer products, said Chargé d’Affaires of US Embassy Dhaka, Helen LaFave.
"Cold chain infrastructure would enable Bangladeshi agricultural producers to diversify export opportunities by ensuring the safety and quality of their agricultural products," she said.
US Trade and Development Agency (USTDA) has awarded a feasibility study grant to Bangladeshi prepared foods and cold chain services company Bonton Foods Limited (Bonton Foods) to support the deployment of a temperature-controlled logistics network of cold storage refrigeration warehouses in Bangladesh.
This feasibility study will identify opportunities for increased U.S. investment in cold chain, which would create a stable logistics network for refrigerated and frozen U.S. products that meet the consumer demands of the rapidly growing Bangladesh middle class, Helen LaFave said.
The study’s goal is to lower costs and reduce losses of dairy, meat, and other food products, resulting in improved food security for people across the country, USTDA said recently.
Read: Bangladesh to reap long-term benefits of US investment: Commercial Counselor of US Embassy
Bonton Foods selected Minnesota-based Land O’Lakes Venture37 to conduct the study.
“Facilitating private sector investment is vital to Bangladesh’s food security goals. Our partnership with Bonton Foods will help mobilize capital and deploy innovative solutions that address the needs of Bangladesh’s people,” said Enoh T. Ebong, USTDA’s Director.
“We look forward to demonstrating the positive role that U.S. technology can play in unlocking greater access to fresh foods.”
While Bangladesh has 2.7 million metric tons of cold storage refrigeration capacity across over 300 sites, the country’s current cold chain industry cannot meet demands, particularly in rural areas.
As a result, animal proteins and produce are handled primarily via wet markets with little to no mechanical refrigeration support, which can lead to food spoilage and loss.
The USTDA-funded study will address these challenges by facilitating the construction of an integrated network of third-party logistics cold storage facilities across Bangladesh.
Shamim Ahamed, Managing Director of Bonton Foods, said the country’s large population—20 million people in greater Dhaka alone—a growing upper and middle-class, and changing consumer patterns signal a bright future for the cold chain industry.
Read more: US investment in Bangladesh's tech market to pave the way for the development of digital economy of two countries: Palak
"We are keen to leverage our position in the market by expanding third-party logistics services to small and medium-sized agribusinesses as well as international food importers and exporters,” he said.
USTDA’s study advances the goals of Biden-Harris Administration priorities such as the Feed the Future initiative.
The U.S. Trade and Development Agency helps companies create US jobs through the export of the U.S. goods and services for priority infrastructure projects in emerging economies.
2 months ago
Startup Bangladesh cancels Tk 5 crore proposed investment in 10 Minute School
Startup Bangladesh Limited, the flagship venture capital fund of the ICT Division, today announced that it has canceled a Tk 5 crore investment proposal for 10 Minute School, Bangladesh’s largest edtech platform.
The decision was shared on Startup Bangladesh’s verified Facebook page and reiterated by State Minister for Posts, Telecommunications and Information Technology Zunaid Ahmed Palak on his own verified page.
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“Startup Bangladesh Limited has rejected the investment proposal of Tk 5 crore for 10 Minute School,” Palak posted.
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This move comes amid the ongoing protests demanding reform of the quota system in government jobs. Ayman Sadiq, co-founder and CEO of 10 Minute School, has publicly supported the protestors’ demands for quota reform. “We demand quota reform. Merit should be the biggest quota,” Sadiq posted on his Facebook on Saturday, using the hashtag #QuotaMovement.
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5 months ago
Dhaka-Riyadh Political Consultations: Trade, investment, Crown Prince’s visit likely to feature prominently
Bangladesh and Saudi Arabia will hold the second political consultations in Riyadh on July 1 which is likely to highlight issues related to trade, investment, Bangladeshi migrants, Rohingya crisis and other issues of mutual interests, officials said on Sunday (June 30, 2024).
Foreign Minister Hasan Mahmud and Saudi Foreign Minister Prince Faisal bin Farhan Al Saud will lead the Bangladesh and Saudi delegations respectively at the high-level meeting that will be held at the Saudi Ministry of Foreign Affairs.
Issues related to education, health, environment and climate change, ICT and tourism are also likely to be discussed in the meeting.
FM Hasan is scheduled to reach Riyadh early Monday on a two-day official visit, a senior official at the Ministry of Foreign Affairs told UNB. The foreign minister is scheduled to return home on July 3.
Private Industry and Investment Adviser to the Prime Minister Sheikh Salman F Rahman will be part of the delegation as investment issues may come up in a big way.
Additional Foreign Secretary (bilateral East and West) Md Nazrul Islam, Bangladesh Ambassador to Saudi Arabia Mohammad Javed Patwary, Director General of West Asia Wing Shafiqur Rahman and Director Nafisa Monsur will accompany the foreign minister as part of Bangladesh delegation members.
Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud, who is also the Prime Minister of the Kingdom of Saudi Arabia, is likely to pay an official visit to Bangladesh later this year.
This would be a landmark event in the history of bilateral relations between Bangladesh and Saudi Arabia leading to the consolidation of ties, especially in trade and commerce, investment and economic cooperation, according to official on both sides.
The Saudi crown prince has accepted the invitation extended by Prime Minister Sheikh Hasina to visit the country this year, and both sides may discuss the issue further for finalization of details, a Bangladesh official told UNB speaking on condition of anonymity.
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It would be the first ever visit of any Saudi crown prince to Bangladesh after 1985 when the then Saudi Crown Prince Abdullah bin Abdulaziz visited Dhaka.
A good number of bilateral instruments -- MoUs and agreements – are likely to be signed during the visit of the Saudi leader, which would strengthen the bilateral ties between the two countries significantly, both sides hope.
The first ever political consultations between Bangladesh and Saudi Arabia were held on March 16, 2022 in Dhaka.
At the meeting, both the leaders reaffirmed the bond of enduring ties and friendship existing between the two brotherly countries and expressed satisfaction over the state of bilateral cooperation.
They noted the understanding and goodwill existing at the political level between the two countries and emphasised the need for devising means and ways to translate this into concrete outcomes.
Both sides further stressed the need to coordinate and work together at functional levels to carry forward the policy decision for mutual benefit of the peoples of the two countries.
Several Saudi companies have already invested in some sectors in Bangladesh and some other companies are considering greater engagement in various areas.
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The envoy said about 2.8 million Bangladeshis working in Saudi Arabia are also making significant contributions to Saudi and Bangladesh economies.
In May this year, the Kingdom of Saudi Arabia (KSA) wanted to know the progress of efforts in renewing the passports of the Rohingyas who went to the KSA back in 1973-74 with Bangladeshi passports.
Saudi Deputy Interior Minister Dr Nasser bin Abdulaziz Al-Daoud discussed the issue with Home Minister Asaduzzaman Khan during a bilateral meeting at that time.
Read more: Saudi Crown Prince exchanges greetings with Hasan Mahmud
5 months ago
Buying US Dollar Investment Bonds: A Comprehensive Guide for NRBs
When it comes to investments, bonds offer some of the best-secured opportunities out there. As a part of investment facilities through bonds for non-resident Bangladeshis (NRBs), Bangladesh Bank offers US Dollar investment bonds (USDIB). Let's take a detailed look at who this is for, how to apply, and what are the benefits of the bond.
What is a US Dollar Investment Bond?
The US Dollar Investment Bond was first introduced in 2002 as a form of investment opportunity for the NRBs. The key goal was to maintain economic stability and increase foreign reserves by attracting dollar investments. It also provided a secure pathway for the NRBs to invest and gain from their foreign earnings.
The rules for the USDIB were later updated in 2012 where the invested principal and the interest can be repatriated in dollar or taka as per the choice of the investor.
Read more: How to Invest in Bonds: A Comprehensive Guide
Who is Eligible for USDIB?
The government of Bangladesh outlined the eligibility criteria for USDIB investment as follows:
Any NRB living and working abroad earning in foreign currency.Foreign nationals of Bangladeshi origin living abroad and earning in foreign currency. Government and semi-government employees working abroad and earning in foreign currency. This includes those working in Bangladeshi missions or international organizations.
How to Buy USDIB?
The process of buying USDIB starts with opening a foreign currency account in any designated bank that operates USDIB under Bangladesh Bank. Note that the F.C. account is different from the Non-Resident Investor’s Taka Account (NITA) as the investment currency can only be US dollars in this case.
Step 1: Opening a Foreign Currency Account
Almost all the leading commercial banks (both national and private) offer USDIB under their NRB banking services. To open a foreign currency account, an NRB would require the following documents.
- Prescribed Account Opening Form - Two passport-size photographs of each of the account holder and the nominee - Authorized specimen signature card (attested by the Bangladesh Embassy in the residing country) - Proof of employment - Copy of passport (attested by the Bangladesh Embassy in the residing country)
An NRB can easily open the F.C. account in any foreign branch of the available banks or use the mail-in service to open the account in Bangladesh.
Read more: Top 10 Strongest Currencies in the World as of May 2024
Step 2: Document Required for USDIB
The process of applying for USDIB differs from bank to bank. Generally, the following documents are required.
- Bangladesh Bank application form for USDIB (https://fid.portal.gov.bd/sites/default/files/files/fid.portal.gov.bd/forms/4085d5c1_fd59_4be6_921d_c2c491fce6dc/investment.pdf)- Application request to invest in USDIB in the respective bank - Personal declaration form - FATCA form (for NRBs residing in the USA)
Step 3: Applying for USDIB
Once you apply for USDIB, you will need to show equivalent funds in your foreign currency account associated with the bank. The money can be deposited in the F.C. account in one of the following ways:
- Cash foreign currency deposited at an NRB branch of the bank- Traveler cheques - Regular cheques or drafts - Money order receipt - Electronic fund transfer - Once the bank completes the due diligence, it will issue bond scrips against the desired amount of bonds to be purchased.
Read more: How to Buy Bangladesh Government Treasury Bond: Everything You Need to Know
6 months ago
“Invest in our many vibrant and high-potential sectors”: PM Hasina tells US-Bangladesh Business Council
Prime Minister Sheikh Hasina on Monday (May 27, 2024) extended an invitation to US business leaders to explore business opportunities in Bangladesh and partner with the country in its journey towards becoming a developed, prosperous, and smart nation by 2041.
“I invite you to invest in our many vibrant and high-potential sectors, such as renewable energy, shipbuilding, automobiles, pharmaceuticals, light and heavy machinery, chemical fertilizers, ICT, marine resources, and medical equipment, among others,” she said.
The Prime Minister said this during her opening speech at a meeting with the US-Bangladesh Business Council at her official residence, Ganabhaban.
She expressed optimism that economic engagement through the US-Bangladesh Business Council would deepen in the coming days. “The United States will become our long-term partner in achieving our development goals through trade, investment, technology transfer, and by creating a smooth and predictable supply chain for mutual benefits,” she added.
While briefing reporters after the meeting, PM’s speechwriter M Nazrul Islam said that Sheikh Hasina informed members of US-Bangladesh Business Council that with her personal initiative after forming the government in 1996, US investment in Bangladesh increased manifold.
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Nazrul Islam said that the US investors expressed high expectations regarding their investments in Bangladesh.
“But they pointed out some challenges which needed to be addressed for more investments in Bangladesh,” he said.
US-Bangladesh Business Council Chairman Steven Kobos delivered the welcome speech while the Council President Ambassador (retd) Atul Keshap gave the vote of thanks.
Sheikh Hasina hoped that the US-Bangladesh Business Council would continue to play a significant role in advancing trade and investment cooperation between the two friendly countries.
“Our focus is now on promoting economic and commercial relations with not only regional but also global partners, including the United States,” she said.
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Highlighting the government’s accomplishments over the last 15 years, she mentioned several mega-infrastructure projects such as the Padma Bridge, metro rail in Dhaka, the Karnaphuli River tunnel, expressway, a modern international airport in Dhaka, and power plants.
“Legal and financial infrastructures are also being enhanced. These have heightened our domestic and regional connectivity,” she noted.
Additionally, the Prime Minister mentioned the establishment of 100 special economic zones (SEZs) and 28 hi-tech parks, some of which are already operational. “Particularly in the IT sector, with over a million freelancing IT professionals, Bangladesh is the right destination for IT investments. Moreover, the availability of a young, skilled, and vibrant workforce at a competitive wage is a huge advantage.”
She emphasized that Bangladesh has the most liberal investment policy in the region and is prioritizing improvements to the investment environment.
Sheikh Hasina also highlighted Bangladesh’s upcoming transition from a "least developed" to a "developing" country in 2026. “We aspire to become a ‘Smart Nation’ by 2041. Here, we need your support in increasing our global competitiveness and expanding our export base.”
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She noted that Bangladesh is globally acknowledged as a “role model of socio-economic development,” attributing this to good governance, rule of law, stability, investment in the rural economy, empowerment of women, and ICT advancements that led to Digital Bangladesh.
The Prime Minister acknowledged the United States as a major economic and development partner for decades, with intensive engagements in many areas, particularly trade and investment.
“Our shared aim is to achieve mutual benefit and prosperity for our people. This is manifested in our growing bilateral trade and people-to-people interaction,” she said.
She added that the United States is currently the largest single-country destination for Bangladeshi exports, the largest source of foreign direct investment, and an important source of knowledge and technology.
PM’s Adviser Salman Fazlur Rahman, State Minister for Commerce Ahasanul Islam Titu and Ambassador at Large M Ziauddin were present at the meeting.
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6 months ago